The Healthy Ageing challenge, run by Innovate UK, aims to enable businesses and social enterprises develop products that support people as they age, allowing people to remain active, independent and self-sufficient for as long as possible.
In partnership with Innovate UK, the UK’s innovation agency, Barclays Ventures has been selected as one of three investment partners for its 'Healthy Ageing Investment Accelerator'.
As detailed below, grant funding provided by UK Research and Innovation (UKRI) will match equity funding, up to a certain level, by Barclays Ventures in UK businesses that are solving the UKRI Industrial Strategy ‘Healthy Ageing’ challenge.
What is the Investment Accelerator?
As part of their partnership with Innovate UK, three ‘Investment Partners’ have been selected to support innovative businesses solving ‘Healthy Ageing’ related core challenges. Companies that receive equity funding from these Investment Partners, and which satisfy the Innovate UK “Healthy Ageing” criteria, will be able to apply for a certain level of matched grant funding from UK Research & Innovation (UKRI), through Innovate UK.
How can I find out more about the programme?
Further details of the programme can be found on the UKRI programme webpage.
Does Barclays Ventures make equity investments in this industry?
Barclays Ventures operates in a range of industry verticals including Health, MedTech and Wellbeing. We have an interest in supporting these sectors and are prepared to make strategic investments in support of our strategy.
Who can apply for the Innovate grant?
Companies which Barclays Ventures choose to invest in and that meet the Innovate UK criteria will be invited to apply for the Innovate UK grant. Innovate UK will assess the application and confirm the grant, if any.
Barclays is not involved in determining whether Innovate UK funding will be granted. The grant will match Barclays’ investment up to £750k. Only companies receiving equity investment from Barclays (based on strategic fit) or one of the other Investment Partners will be able to apply for the Innovate UK grant. Barclays has been granted £1m of grants to match their equity investments. Full eligibility criteria and other terms & conditions can be found on the UKRI programme webpage.
If you are interested in applying for grant funding (having received equity funding from one of the Investment Partners), we suggest that you also read the following links to check whether you are eligible to receive the Innovate UK administered grant funding.
When does the Investment Accelerator launch?
The official launch date is 11 June 2020. There are expected to be a series of 8-week application periods open over the next two years, where you can log an expression of interest with Innovate UK. Details can be found on the programme webpage.
How long does the programme last?
Projects approved by Innovate UK must be completed by Friday 31 March, 2023.
How will funding be delivered?
Subject to the programme terms described above (including eligibility), Innovate UK will provide a non-repayable grant that matches the amount of Barclays eligible equity funding in successful businesses up to £750k.
Who at Innovate UK can I contact for more information?
Dr. Helen Crampin
Innovation and Technology Lead, Healthy Ageing.
Tel: +44 7880 462 136
Email: Helen Crampin